-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HFhxYxHLKZNbsajGvP5nPqyA6rXCeVsOb+5vhlG2wVrvjV59d1bKQ6N1LQKYOJa+ m8bDae/8QnyWaW9wCBfcQg== 0000950172-03-000913.txt : 20030320 0000950172-03-000913.hdr.sgml : 20030320 20030320155727 ACCESSION NUMBER: 0000950172-03-000913 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20030320 GROUP MEMBERS: ANTHONY KRONMAN GROUP MEMBERS: GERALD TSAI, JR. GROUP MEMBERS: GLORIA SCHAFFER GROUP MEMBERS: HARRY FIELDS GROUP MEMBERS: INTERNATIONAL SPECIALITY HOLDINGS INC. GROUP MEMBERS: INTERNATIONAL SPECIALTY PRODUCTS INC. GROUP MEMBERS: RAYMOND S. TROUBH GROUP MEMBERS: SAMUEL J. HEYMAN GROUP MEMBERS: SUNIL KUMAR GROUP MEMBERS: VINCENT TESE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: HERCULES INC CENTRAL INDEX KEY: 0000046989 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS CHEMICAL PRODUCTS [2890] IRS NUMBER: 510023450 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-15992 FILM NUMBER: 03610643 BUSINESS ADDRESS: STREET 1: 1313 N MARKET ST STREET 2: HERCULES PLZ CITY: WILMINGTON STATE: DE ZIP: 19894 BUSINESS PHONE: 3025945000 MAIL ADDRESS: STREET 1: HERCULES PLAZA STREET 2: RM 8151 NW CITY: WILMINGTON STATE: DE ZIP: 19894-0001 FORMER COMPANY: FORMER CONFORMED NAME: HERCULES POWDER CO DATE OF NAME CHANGE: 19680321 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ISP INVESTCO LLC CENTRAL INDEX KEY: 0001157306 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 300 DELAWARE AVE STREET 2: STE 303 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 3024275715 MAIL ADDRESS: STREET 1: 300 DELAWARE AVE STREET 2: STE 303 CITY: WILMINGTON STATE: DE ZIP: 19801 SC 13D/A 1 s404875.txt SC 13D/A #14 ============================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 14) ______________________________ HERCULES INCORPORATED (Name of Issuer) Common Stock, $25/48 stated value per share 427056106 (Title of class of securities) (CUSIP number) Richard A. Weinberg, Esq. 1361 Alps Road Wayne, New Jersey 07470 (973) 628-4000 (Name, address and telephone number of person authorized to receive notices and communications) March 20, 2003 (Date of event which requires filing of this statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-(g), check the following box. |_| Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss. 240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act. (However, see the Notes.) (Continued on following pages) (Page 1 of 16 Pages) ============================================================================ - ----------------------------------- --------------------------------- CUSIP No. 427056106 13D Page 2 of 16 Pages - ----------------------------------- --------------------------------- - ------------- ------------------------------------------------------------- 1 NAME OF REPORTING PERSON ISP INVESTCO LLC S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------- ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_| (b) |X| - ------------- ------------------------------------------------------------- 3 SEC USE ONLY - ------------- ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------- ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ------------- ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ---------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 9,893,700 SHARES ------------ ---------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY EACH ------------ ---------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER: 9,893,700 PERSON WITH - ------------- ------------ ---------------------------------------------- 10 SHARED DISPOSITIVE POWER: 0 - ------------- ------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 9,893,700 - ------------- ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ------------- ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.06% - ------------- ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - ------------- ------------------------------------------------------------- - ----------------------------------- --------------------------------- CUSIP No. 427056106 13D Page 3 of 16 Pages - ----------------------------------- --------------------------------- - ------------- ------------------------------------------------------------- 1 NAME OF REPORTING PERSON INTERNATIONAL SPECIALTY S.S. OR I.R.S. IDENTIFICATION NO. HOLDINGS INC. OF ABOVE PERSON - ------------- ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |_| (b) |X| - ------------- ------------------------------------------------------------- 3 SEC USE ONLY - ------------- ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------- ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ------------- ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ------------- ------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------ ----------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 9,893,700 OWNED BY (See Item 5) EACH ------------ ----------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER: 0 PERSON WITH - ------------- ------------ ----------------------------------------------- 10 SHARED DISPOSITIVE POWER: 9,893,700 (See Item 5) - ------------- ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 9,893,700 (See Item 5) - ------------- ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ------------- ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.06% - ------------- ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ------------- ------------------------------------------------------------- - ----------------------------------- --------------------------------- CUSIP No. 427056106 13D Page 4 of 16 Pages - ----------------------------------- --------------------------------- 1 NAME OF REPORTING PERSON INTERNATIONAL SPECIALTY S.S. OR I.R.S. IDENTIFICATION NO. PRODUCTS INC. OF ABOVE PERSON - ------------- ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) |X| (b) | | - ------------- ------------------------------------------------------------- 3 SEC USE ONLY - ------------- ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------- ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ------------- ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ------------- ------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------ ----------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 9,893,700 OWNED BY (See Item 5) ------------ ----------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------ ----------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 9,893,700 (See Item 5) - ------------- ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 9,893,700 REPORTING PERSON: (See Item 5) - ------------- ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ------------- ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.06% - ------------- ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ------------- ------------------------------------------------------------- - ----------------------------------- --------------------------------- CUSIP No. 427056106 13D Page 5 of 16 Pages - ----------------------------------- --------------------------------- - ------------- ------------------------------------------------------------- 1 NAME OF REPORTING PERSON SAMUEL J. HEYMAN S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------- ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a)|X| (b)| | - ------------- ------------------------------------------------------------- 3 SEC USE ONLY - ------------- ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------- ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ------------- ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ---------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 11,948* SHARES ------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 9,893,700 OWNED BY (See Item 5) ------------ ----------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 11,948* REPORTING ------------ ----------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 9,893,700 (See Item 5) - ------------- ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY 9,905,648* REPORTING PERSON: (See Item 5) - ------------- ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ------------- ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 9.07% - ------------- ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ------------- ------------------------------------------------------------- * Includes 3,000 options granted pursuant to the Non-employee Directors Stock Accumulation Plan which are exercisable between 11/5/02 and 11/5/11 at an exercise price of $8.52. - ----------------------------------- --------------------------------- CUSIP No. 427056106 13D Page 6 of 16 Pages - ----------------------------------- --------------------------------- - ------------- ------------------------------------------------------------- 1 NAME OF REPORTING PERSON SUNIL KUMAR S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------- ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a)|X| (b)| | - ------------- ------------------------------------------------------------- 3 SEC USE ONLY - ------------- ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------- ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ------------- ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ---------------------------------------------------------------------------- 7 SOLE VOTING POWER: 25,987* NUMBER OF SHARES ------------ ----------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------ ----------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 25,987* REPORTING ------------ ----------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ------------- ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 25,987* - ------------- ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ------------- ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.02% - ------------- ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ------------- ------------------------------------------------------------- * Includes 3,000 options granted pursuant to the Non-employee Directors Stock Accumulation Plan which are exercisable between 11/5/02 and 11/5/11 at an exercise price of $8.52. - ----------------------------------- --------------------------------- CUSIP No. 427056106 13D Page 7 of 16 Pages - ----------------------------------- --------------------------------- - ------------- ------------------------------------------------------------- 1 NAME OF REPORTING PERSON GLORIA SCHAFFER S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------- ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a)|X| (b)| | - ------------- ------------------------------------------------------------- 3 SEC USE ONLY - ------------- ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------- ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ------------- ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - --------------------------- ----------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 7,828* SHARES ------------ ----------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------ ----------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 7,828* REPORTING ------------ ----------------------------------------------- 10 SHARED DISPOSITIVE POWER: 0 PERSON WITH - ------------- ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 7,828* - ------------- ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ------------- ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.01% - ------------- ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ------------- ------------------------------------------------------------- * Includes 3,000 options granted pursuant to the Non-employee Directors Stock Accumulation Plan which are exercisable between 11/5/02 and 11/5/11 at an exercise price of $8.52. - ----------------------------------- --------------------------------- CUSIP No. 427056106 13D Page 8 of 16 Pages - ----------------------------------- --------------------------------- - ------------- ------------------------------------------------------------- 1 NAME OF REPORTING PERSON RAYMOND S. TROUBH S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------- ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a)|X| (b)| | - ------------- ------------------------------------------------------------- 3 SEC USE ONLY - ------------- ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------- ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ------------- ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ------------- ------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 19,948* SHARES ------------ ----------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------ ----------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 19,948* REPORTING ------------ ----------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ------------- ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 19,948* - ------------- ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ------------- ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.02% - ------------- ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ------------- ------------------------------------------------------------- * Includes 3,000 options granted pursuant to the Non-employee Directors Stock Accumulation Plan which are exercisable between 11/5/02 and 11/5/11 at an exercise price of $8.52. - ----------------------------------- --------------------------------- CUSIP No. 427056106 13D Page 9 of 16 Pages - ----------------------------------- --------------------------------- - ------------- ------------------------------------------------------------- 1 NAME OF REPORTING PERSON HARRY FIELDS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------- ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a)|X| (b)| | - ------------- ------------------------------------------------------------- 3 SEC USE ONLY - ------------- ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------- ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ------------- ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ------------- ------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------ ----------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------ ----------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------ ----------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ------------- ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 0 - ------------- ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ------------- ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.00% - ------------- ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ------------- ------------------------------------------------------------- - ----------------------------------- --------------------------------- CUSIP No. 427056106 13D Page 10 of 16 Pages - ----------------------------------- --------------------------------- - ------------- ------------------------------------------------------------- 1 NAME OF REPORTING PERSON ANTHONY KRONMAN S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------- ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a)|X| (b)| | - ------------- ------------------------------------------------------------- 3 SEC USE ONLY - ------------- ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------- ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ------------- ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ------------- ------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------ ----------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------ ----------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------ ----------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ------------- ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 0 - ------------- ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ------------- ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.00% - ------------- ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ------------- ------------------------------------------------------------- - ----------------------------------- --------------------------------- CUSIP No. 427056106 13D Page 11 of 16 Pages - ----------------------------------- --------------------------------- - ------------- ------------------------------------------------------------- 1 NAME OF REPORTING PERSON VINCENT TESE S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------- ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a)|X| (b)| | - ------------- ------------------------------------------------------------- 3 SEC USE ONLY - ------------- ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------- ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ------------- ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ---------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------ ----------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------ ----------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------ ----------------------------------------------- 10 SHARED DISPOSITIVE POWER: 0 PERSON WITH - ------------- ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 0 ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ------------- ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.00% - ------------- ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ------------- ------------------------------------------------------------- - ----------------------------------- --------------------------------- CUSIP No. 427056106 13D Page 12 of 16 Pages - ----------------------------------- --------------------------------- - ------------- ------------------------------------------------------------- 1 NAME OF REPORTING PERSON GERALD TSAI, JR. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------- ------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a)|X| (b)| | - ------------- ------------------------------------------------------------- 3 SEC USE ONLY - ------------- ------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ------------- ------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): |_| - ------------- ------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA - ------------- ------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------ ----------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 EACH ------------ ----------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER: 0 ------------ ----------------------------------------------- 10 SHARED DISPOSITIVE POWER: 0 PERSON WITH - ------------- ------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 0 - ------------- ------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: |_| - ------------- ------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.00% - ------------- ------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ------------- ------------------------------------------------------------- This Amendment No. 14 ("Amendment No. 14") is being filed by and on behalf of Samuel J. Heyman ("Mr. Heyman"), Raymond S. Troubh ("Mr. Troubh"), Sunil Kumar ("Mr. Kumar"), Gloria Schaffer ("Ms. Schaffer" and together with Mr. Heyman, Mr. Kumar and Mr. Troubh, the "Minority Directors"), Harry Fields ("Mr. Fields"), Anthony T. Kronman ("Mr. Kronman"), Vincent Tese ("Mr. Tese") and Gerald Tsai, Jr. ("Mr. Tsai" and together with Mr. Fields, Mr. Kronman and Mr. Tese, the "Nominees"), ISP Investco LLC, a Delaware limited liability company ("Investco"), International Specialty Holdings Inc., a Delaware corporation ("Holdings"), International Specialty Products Inc., a Delaware corporation ("ISP" and together with the Minority Directors, the Nominees, Investco and Holdings, the "Reporting Persons"), and it amends the statement of beneficial ownership on Schedule 13D ("Schedule 13D") filed on July 24, 2000, as amended by Amendment No. 1 filed on October 11, 2000, Amendment No. 2 filed on January 23, 2001, Amendment No. 3 filed on February 7, 2001, Amendment No. 4 filed on February 20, 2001, Amendment No. 5 filed on February 28, 2001, Amendment No. 6 filed on March 7, 2001, Amendment No. 7 filed on March 9, 2001, Amendment No. 8 filed on March 12, 2001, Amendment No. 9 filed on April 4, 2001, Amendment No. 10 filed on April 11, 2001, Amendment No. 11 filed on April 13, 2001, Amendment No. 12 filed on August 2, 2001 and Amendment No. 13 filed on February 12, 2003 with respect to the ownership of common stock, stated value $25/48 per share ("Common Stock"), of Hercules Incorporated ("Hercules" or the "Company"). Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Schedule 13D, as previously amended. ITEM 2. IDENTITY AND BACKGROUND Item 2 is hereby amended and supplemented as follows: Investco, Holdings and ISP have their principal place of business at 300 Delaware Avenue, Wilmington, Delaware 19801. The business of Investco consists primarily of holding investments for Holdings and ISP, including the Investco Shares (as such term is defined in Item 5 below). The business of Holdings consists primarily of owning 100% of the outstanding capital stock of Investco and ISP Chemco Inc. Holdings is a wholly-owned subsidiary of ISP and is Investco's sole member. The business of ISP consists primarily of owning 100% of the outstanding shares of capital stock of Holdings. Mr. Heyman may be deemed to beneficially own (as defined in Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the "Exchange Act")) 100% of the outstanding shares of common stock of ISP. Such beneficial ownership consists of ISP shares held through a limited partnership and two limited liability companies with respect to which Mr. Heyman has sole voting and investment power, shares owned by a charitable foundation of which Mr. Heyman is a director and president, and shares subject to options under ISP stock option plans that are currently exercisable or will become exercisable. Mr. Heyman is the Chairman of the Board of ISP. The business address of Mr. Heyman is 1361 Alps Road, Wayne, New Jersey 07470. Each of the Minority Directors was a nominee of ISP for Hercules' board of directors (the "Board of Directors") at Hercules' 2001 Annual Meeting of Stockholders (the "2001 Annual Meeting") and has been serving on the Board of Directors since shortly after the 2001 Annual Meeting. Mr. Kumar is the Chief Executive Officer of ISP. The business address for Mr. Kumar is 1361 Alps Road, Wayne, New Jersey 07470. Ms. Schaffer is a partner at C.A. White, Inc., a real estate development firm. The business address for Ms. Schaffer is 1211 Chapel Street, New Haven, Connecticut 06511. Mr. Troubh is a financial consultant. The business address for Mr. Troubh is 10 Rockefeller Plaza, Suite 712 New York, New York, 10020. Page 13 of 16 Pages The Minority Directors, the Nominees and ISP have agreed to form the Hercules Shareholders' Committee for New Management (the "Committee") to participate in a proxy solicitation (the "Proxy Solicitation") intended to be conducted by the Committee relating to the election of the Nominees at Hercules' 2003 Annual Meeting of Stockholders (the "2003 Annual Meeting"). As further discussed in Item 6 below each of the Nominees has entered into a letter agreement with ISP (a "Letter Agreement") relating to the Proxy Solicitation. Mr. Fields is President of Fields Associates, Ltd. The business address for Mr. Fields is 28 Stonewall Lane, Mamaroneck, NY 10543. Mr. Kronman is Dean of the Yale Law School. The business address for Mr. Kronman is 127 Wall Street, New Haven, CT 06511. Mr. Tese is the Chairman of Wireless Cable International Inc. The business address for Mr. Tese is c/o Bear Stearns & Co. Inc., 383 Madison Avenue, 6th Floor, New York, NY 10179. Mr. Tsai is a private investor. The business address for Mr. Tsai is 200 Park Ave., Suite 4522, New York, NY 10166. All of the Minority Directors and the Nominees are citizens of the United States. None of the Reporting Persons hereto has, during the last five years, (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding a violation with respect to such laws. ITEM 4. Purpose of Transaction Item 4 is hereby amended and supplemented as follows: As a result of previously reported discussions with advisors, potential director nominees and others, ISP, together with the Nominees and the Minority Directors have formed the Committee, and the Committee intends to nominate the Nominees to stand for election as members of the Board of Directors at the 2003 Annual Meeting, and to solicit proxies from the Company's stockholders in support of the election of the Nominees. As reported in Item 6 below, each of the Nominees has entered into a Letter Agreement with ISP, the form of which is attached hereto as Exhibit 10.01. The Nominees, if elected, together with the Minority Directors will constitute a majority of the members of the Board of Directors and, since the Company's by-laws provide that action by the Board of Directors requires a majority vote of the directors present at a meeting at which a quorum is present, the four Nominees, together with the Minority Directors, would be able to cause any action to be taken or not taken by the Board of Directors. The Committee has filed with the Securities and Exchange Commission its preliminary proxy statement with respect to the Proxy Solicitation. On March 20, 2003, the Committee issued a press release announcing that it will solicit proxies to elect four candidates to the Board of Directors of Hercules at the 2003 Annual Meeting. The foregoing summary of the press release is qualified in its entirety by reference to the text of the release, which is attached hereto as Exhibit 99.01 and which is incorporated herein by reference. Page 14 of 16 Pages On March 20, 2003 the following letter was sent to Dr. William Joyce, Chief Executive Officer of Hercules: "March 20, 2003 William H. Joyce, Ph.D., Chairman and Chief Executive Officer Hercules Incorporated, Hercules Plaza 1313 North Market Street Wilmington, DE 19898 Dear Bill: We are filing a proxy statement with the SEC today in connection with our proxy contest for election of directors at this year's Annual Meeting. We regret having to do this, but frankly see this as the only alternative to the continued destruction of shareholder values to which we have borne witness. While I realize that the Board has certain discretion with regard to the scheduling of the Annual Meeting, I would urge you and the Board to schedule the meeting at the earliest practicable time. I believe that an early meeting would be in the interests of the Company, shareholders, and employees, so that we can put this behind us and determine a future direction for the Company without unnecessary delay. To this end, I request that you promptly schedule a Board call so that the Board can act concerning this matter. Thank you for your cooperation in this matter. Sincerely, /s/ Samuel J. Heyman -------------------------------- Samuel J. Heyman SJH:kjc cc: R. Fairbanks A. R. Hirsig Edith E. Holiday, Esq. J. Hunter R. D. Kennedy Sunil Kumar J. M. Lipton Peter McCausland Gloria Schaffer R. S. Troubh Joe B. Wyatt" ITEM 5. Interest in Securities of the Issuer Item 5 is hereby amended and supplemented as follows: Each of ISP, the Minority Directors and Nominees have agreed to be part of the Committee. Because of such agreement, ISP, the Minority Directors and Nominees may be deemed to be part of a "group" for purposes of Regulation 13D-G of the Exchange Act. Investco, Holdings, ISP and Mr. Heyman may also be deemed to be part of the "group" because: (i) as of the filing of this Amendment No. 14 Investco has the sole power to vote, direct the voting of, dispose of and direct the disposition of 9,893,700 shares of Common Stock (the "Investco Shares"); (ii) Holdings, by virtue of being the sole member of Investco, may be deemed to own beneficially (solely for purposes of Rule 13d-3 under the Exchange Act) the Investco Shares; (iii) ISP, by virtue of its ownership of all of the outstanding common stock of Holdings, may be deemed to own beneficially (solely for purposes of Rule 13d-3 under the Exchange Act) the Investco Shares and (iv) Mr. Heyman, by virtue of his deemed beneficial ownership (as defined in Rule 13d-3 under the Exchange Act) of approximately 100% of the outstanding shares of common stock of ISP, may be deemed to own beneficially (solely for purposes of Rule 13d-3 under the Exchange Act) the Investco Shares. As of the filing of this Amendment No. 14, the Reporting Persons beneficially owned (or are deemed, solely for purposes of Rule 13d-3 under the Exchange Act, to beneficially own), directly or indirectly, an aggregate of 9,959,411 shares of Common Stock (the "Shares"), representing approximately 9.12% of the shares of Common Stock outstanding on October 31, 2002 (based on 109,201,969 shares of Common Stock outstanding as of such date, as set forth in the Company's Form 10-Q/A for the quarterly period ended September 30, 2002 filed with the Securities and Exchange Commission on December 12, 2002). In accordance with Rule 13d-5(b)(1) of the of the General Rules and Regulations under the Exchange Act, to the extent a "group" is deemed to exist among the Reporting Persons, each of the Reporting Persons may be deemed to have beneficial ownership, for purposes of Sections 13(g) and 13(d) of the Exchange Act, of the Shares. The filing of this Amendment No. 14 is not, and shall not be construed as, an admission for the purposes of Sections 13(d) and 13(g) and Regulation 13D-G of the Exchange Act nor for any other purposes or under any other provision of the Exchange Act or the rules promulgated thereunder that the Reporting Persons or any of their executive officers or directors beneficially owns any of the Shares, other than shares of Common Stock with respect to which such Reporting Person has direct beneficial ownership as set forth below. As of the filing of this Amendment No. 14: (i) Investco has direct beneficial ownership of 9,893,700 of the Shares; (ii) Mr. Heyman has direct beneficial ownership of 11,948 of the Shares; (iii) Mr. Kumar has direct beneficial ownership of 25,987 of the Shares; (iv) Mrs. Schaffer has direct beneficial ownership of 7,828 of the Shares; and (v) Mr. Troubh has direct beneficial ownership of 19,948 of the Shares. With respect to the Minority Directors, the foregoing numbers of shares include shares of Common Stock acquired and/or granted to each of them in connection with their service as members of the Board of Directors. Page 15 of 16 Pages Since February 12, 2003, the date of the filing of Amendment No. 13 to the Schedule 13D, Mr. Heyman has been granted with 4,170 shares of Common Stock under the Non-employee Directors Stock Accumulation Plan (the "Plan") of the Company. In the last sixty days, Mr. Kumar has been granted 4,458 shares of Common Stock under the Plan. Neal Murphy, Senior Vice President and Chief Financial Officer of Holdings and ISP, engaged in the following transactions during the last 60 days with respect to Hercules' Common Stock: (i) on January 27, 2003 he purchased 500 shares of Common Stock at a price of $8.50 per share; (ii) on January 28, 2003 he sold 500 shares of Common Stock at a price of $8.41 per share; (iii) on January 28, 2003 he purchased 500 shares of Common Stock at a price of $8.49 per share; and (iv) on January 28, 2003 he sold 500 shares of Common Stock at a price of $8.41 per share. All the transactions were on the open market. As of the date of the filing of this Amendment No. 14, he owns no shares of Common Stock. ITEM 6. Contracts, Arrangements, Undertakings or Relationships With Respect to Securities of the Issuer. Item 6 is hereby amended and supplemented as follows: Each of the Nominees has entered into a Letter Agreement agreeing to participate in the Proxy Solicitation intended to be conducted by the Committee relating to the 2003 Annual Meeting and to stand for election as a nominee of the Committee to serve as a director of the Company for a three-year term. Pursuant to the terms of each such Letter Agreement, ISP has agreed to indemnify each of the Nominees for any losses (as such term is defined in the form of Letter Agreement) suffered in connection with the Proxy Solicitation and to pay a fee of US$35,000.00 to each Nominee. Such payment obligation is triggered when the Committee files with the Securities and Exchange Commission its definitive proxy statement in connection with the Proxy Solicitation. The foregoing summary of the Letter Agreement is qualified in its entirety by reference to the text of the form of such agreement, which form is attached hereto as Exhibit 10.01 and which is incorporated herein by reference. Item 7. Material to be filed as Exhibits. Exhibit 10.01 Form of Letter Agreement between ISP and each of the Nominees. Exhibit 99.01 Press Release issued by the Committee on March 20, 2003. [The remainder of this page intentionally left blank.] Page 16 of 16 Pages SIGNATURES After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this Statement is true, complete and correct. Dated: March 20, 2003 ISP INVESTCO LLC By: International Specialty Holdings Inc., its Sole Member By: /s/ Richard A. Weinberg ----------------------------------------- Richard A. Weinberg Executive Vice President, General Counsel and Secretary INTERNATIONAL SPECIALTY HOLDINGS INC. By: /s/ Richard A. Weinberg ----------------------------------------- Richard A. Weinberg Executive Vice President, General Counsel and Secretary INTERNATIONAL SPECIALTY PRODUCTS INC. By: /s/ Richard A. Weinberg ----------------------------------------- Richard A. Weinberg Executive Vice President, General Counsel and Secretary /s/ Samuel J. Heyman ----------------------------------------- Samuel J. Heyman /s/ Sunil Kumar ----------------------------------------- Sunil Kumar /s/ Gloria Schaffer ----------------------------------------- Gloria Schaffer /s/ Raymond S. Troubh ----------------------------------------- Raymond S. Troubh /s/ Harry Fields ----------------------------------------- Harry Fields /s/ Anthony T. Kronman ----------------------------------------- Anthony T. Kronman /s/ Vincent Tese ----------------------------------------- Vincent Tese /s/ Gerald Tsai ----------------------------------------- Gerald Tsai EX-10 3 s732001.txt EX 10.01 - LETTER AGREEMENT Exhibit 10.01 ------------- [ISP Letterhead] March __, 2003 [Nominee Name] [Nominee Address] Dear [Nominee]: This letter agreement ("Letter Agreement") will confirm your agreement with International Specialty Products Inc. ("ISP") to participate in a proxy solicitation (the "Proxy Solicitation") intended to be conducted by the Hercules Shareholders' Committee for New Management (the "Committee") relating to the 2003 annual meeting of stockholders of Hercules Incorporated (the "Company") and to stand for election as a nominee of the Committee to serve as a director of the Company for a three-year term ending on the date of the annual meeting of the stockholders of the Company to be held in 2006 and until your successor is duly elected and qualified. Concurrently with the execution of this Letter Agreement, please execute the Consent to serve as a nominee of the Committee and serve as a director of the Company, if elected, attached as Annex A hereto. In consideration of your agreement as set forth above, and to the fullest extent permitted by the Delaware General Corporation Law and other applicable law, ISP agrees to indemnify you against and hold you harmless from any and all liabilities, losses, claims, damages and out-of-pocket expenses (including reasonable attorneys' fees and expenses) (collectively, "Losses") based upon or arising out of the matters set forth herein with respect to the Proxy Solicitation; provided, however, that ISP shall not be liable in any such case to the extent that any such Losses arise out of any inaccurate written information supplied by you for inclusion in any filings made with any federal or state governmental agency, including the Proxy Solicitation materials, or is found in a final judgment by a court, not subject to further appeal, to have resulted from bad faith, willful misconduct or gross negligence on your part. Promptly after receipt by you of notice of any such claim or the commencement of any action, proceeding or investigation in respect of which indemnification may be sought as provided above, you must promptly notify ISP, in writing (with a copy to our counsel, Skadden, Arps, Slate, Meagher & Flom LLP, Four Times Square, New York, New York, 10036-6522; Attention: Richard J. Grossman) of the receipt of any such notice or commencement of any such action, proceeding or investigation. In case any such action, proceeding or investigation is brought against you, and you notify ISP of the commencement thereof, ISP will be entitled to participate therein and, to the extent that ISP may wish, to assume the defense and settlement thereof, with counsel reasonably satisfactory to you; provided, however, that if the defendants in any such action include both you and ISP and if you have been advised by counsel that there may be one or more legal defenses available to you that are different from or additional to those available to ISP, you will have the right to elect separate counsel to participate in the defense of such action on your behalf. After notice from ISP to you of its election so to assume the defense thereof ISP will not be liable to you under this Letter Agreement for any expenses subsequently incurred by you in connection with the defense thereof, unless you shall have employed counsel in accordance with the proviso to the preceding sentence. ISP shall not be liable under this Letter Agreement to make any indemnification payment in connection with any claim made against you to the extent that you have otherwise received payment or have a right to be indemnified or reimbursed (under any insurance policy, pursuant to any indemnification or reimbursement payment or provision by any party other than ISP, or otherwise) of the amounts otherwise indemnifiable hereunder. Any payments required to be made by ISP pursuant to this Letter Agreement will be remitted to you on a monthly basis as the expenses to which such payments relate are incurred. In connection with your agreement to participate in the Proxy Solicitation, and to serve, if elected, as a director of the Company, ISP, irrespective of whether or not you are, in fact, elected as a director of the Company, will pay you a one-time fee of $35,000 in cash. ISP's obligations under this paragraph shall become effective on the date the Committee files with the Securities and Exchange Commission its definitive proxy statement in connection with the Proxy Solicitation. This Letter Agreement shall be governed by and construed by and enforced in accordance with the laws of the State of New York applicable to contracts to be performed in such state without giving effect to the principles of conflicts of law thereof or of any other jurisdiction. ISP and you hereby irrevocably and unconditionally consent to submit to the non-exclusive jurisdiction of the courts of the State of New York and of the United States of America in each case located in the County of New York for any litigation arising out of or relating to this Letter Agreement, and waive any objection to the laying of venue of any litigation arising out of this Letter Agreement in the courts of the State of New York or of the United States of America in each case located in the County of New York and hereby further irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such litigation brought in any such court has been brought in an inconvenient forum. Please acknowledge your agreement to the foregoing by signing in the space provided below. Sincerely, INTERNATIONAL SPECIALTY PRODUCTS INC. By:__________________________________ Name: Title: Accepted and Agreed this __ day of March, 2003 _________________________ [Nominee] Annex A CONSENT OF NOMINEE The undersigned understands that Hercules Shareholders' Committee for New Management (the "Committee"), intends to nominate the undersigned for election to the Board of Directors of Hercules Incorporated, a Delaware corporation (the "Company") at the Company's 2003 Annual Meeting of Stockholders. The undersigned hereby consents to become a nominee of the Committee for the Board of Directors of the Company, to be named in the Committee's proxy soliciting materials as such and to serve as a director of the Company if elected. ________________________ Name: March ___, 2003 EX-99 4 herpress.txt EX 99.01 PRESS RELEASE Exhibit 99.01 ------------- News Release - -------------------------------------------------------------------------------- Hercules Shareholders' Committee For New Management * 17 State Street * New York, New York 10004 Contact: Karen J. Carroll 212-821-1602 THE HERCULES SHAREHOLDERS' COMMITTEE FOR NEW MANAGEMENT ANNOUNCES PROXY CONTEST ______________________________________________________ NEW YORK, NY, MARCH 20, 2003 - The Hercules Shareholders' Committee for New Management, in its filing of a preliminary proxy statement with the SEC today, announced that it will solicit proxies to elect four candidates to the Board of Directors of Hercules Incorporated (NYSE:HPC) at the upcoming 2003 Annual Meeting. The Committee is comprised of International Specialty Products Inc. ("ISP"), a privately-held international specialty chemicals company, four current members of the Hercules Board (the "minority directors"), and the Committee's four nominees for this year's proxy contest. The four current Hercules Board members are Samuel J. Heyman, ISP's Chairman, Raymond S. Troubh, a member of a number of corporate boards and a former General Partner of Lazard Freres & Co., Sunil Kumar, ISP's Chief Executive Officer, and Gloria Schaffer, former Connecticut Secretary of State and member of the Federal Civil Aeronautics Board. The Committee's four nominees are Harry Fields, a former senior executive at International Flavors and Fragrances, Inc. and a member of that company's Board, Anthony T. Kronman, Dean of Yale Law School, Vincent Tese, Chairman of Wireless Cable International Inc. and a former Chairman and Chief Executive Officer of New York State's Urban Development Corporation, and Gerald Tsai, Jr., a member of a number of corporate boards and former Chairman and Chief Executive Officer of Primerica Corporation. The minority directors were elected following a successful proxy contest at Hercules' 2001 Annual Meeting and have served on the Hercules Board since that time. The Committee's four nominees, if elected, together with the minority directors, will constitute a majority of the Hercules Board which is currently composed of thirteen members. The date of the 2003 Annual Meeting has not yet been announced by Hercules, but the Committee, in a letter today to Dr. Joyce, has asked that the Board schedule a meeting at the "earliest practicable time ... so that we can put this behind us and determine a future direction for the Company without unnecessary delay." ISP is the second largest shareholder of Hercules, owning almost 9.9 million shares (approximately 9.1%) of Hercules common stock, having been a Hercules shareholder for the last two and one-half years. * * * * * * * * * * * ISP, Samuel J. Heyman, Raymond S. Troubh, Sunil Kumar, Gloria Schaffer, Harry Fields, Anthony T. Kronman, Vincent Tese and Gerald Tsai and certain other persons may be deemed participants in the solicitation of proxies from the shareholders of Hercules Incorporated ("Hercules") in connection with Hercules' 2003 Annual Meeting of Shareholders. Information concerning such participants is available in the Hercules Shareholders' Committee for New Management's (the "Committee") preliminary proxy statement on Schedule 14A (the "Preliminary Proxy Statement") filed by the Committee with the Securities and Exchange Commission (the "SEC") on March 20, 2003. SHAREHOLDERS OF HERCULES ARE ADVISED TO READ THE COMMITTEE'S DEFINITIVE PROXY STATEMENT (THE "DEFINITIVE PROXY STATEMENT") IN CONNECTION WITH THE COMMITTEE'S SOLICITATION OF PROXIES FROM HERCULES SHAREHOLDERS WHEN IT BECOMES AVAILABLE, BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. Shareholders of Hercules and other interested parties may obtain, free of charge, copies of the Preliminary Proxy Statement and the Definitive Proxy Statement (when available) and any other documents filed by the Committee with the SEC, at the SEC's Internet website at www.sec.gov. The Preliminary Proxy Statement and the Definitive Proxy Statement (when available) and these other documents may also be obtained free of charge by contacting Georgeson Shareholder Communications Inc., the firm assisting the Committee in the solicitation of proxies, toll-free at 1-866-288-2190. -----END PRIVACY-ENHANCED MESSAGE-----